Elevation Point Wealth Partners LLC Reduces Holdings in Adobe Inc. $ADBE

Elevation Point Wealth Partners LLC lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 21.2% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,599 shares of the software company’s stock after selling 430 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Adobe were worth $618,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Financial Avengers Inc. lifted its position in shares of Adobe by 7.4% in the second quarter. Financial Avengers Inc. now owns 7,912 shares of the software company’s stock valued at $3,061,000 after acquiring an additional 548 shares in the last quarter. Harfst & Associates Inc. raised its stake in Adobe by 1.8% in the 2nd quarter. Harfst & Associates Inc. now owns 7,887 shares of the software company’s stock valued at $3,051,000 after purchasing an additional 139 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Adobe by 5.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 9,378 shares of the software company’s stock valued at $3,628,000 after purchasing an additional 445 shares in the last quarter. Vinva Investment Management Ltd boosted its stake in shares of Adobe by 45.5% during the 2nd quarter. Vinva Investment Management Ltd now owns 32,921 shares of the software company’s stock worth $12,702,000 after purchasing an additional 10,292 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd purchased a new stake in shares of Adobe during the second quarter worth about $3,215,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 149 shares of Adobe stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $337.88, for a total transaction of $50,344.12. Following the transaction, the chief accounting officer directly owned 3,426 shares of the company’s stock, valued at $1,157,576.88. The trade was a 4.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Adobe Price Performance

Shares of Adobe stock opened at $320.25 on Friday. The business’s fifty day moving average price is $339.41 and its 200 day moving average price is $362.87. Adobe Inc. has a twelve month low of $311.58 and a twelve month high of $557.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $134.05 billion, a P/E ratio of 19.95, a PEG ratio of 1.51 and a beta of 1.47.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.18 by $0.13. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.91 billion. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $4.65 earnings per share. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. As a group, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ADBE shares. Barclays set a $465.00 price objective on shares of Adobe and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Melius lowered Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a research note on Monday, August 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Adobe in a research report on Wednesday, October 8th. DA Davidson reiterated a “buy” rating and issued a $500.00 target price on shares of Adobe in a research note on Thursday, November 20th. Finally, Oppenheimer decreased their price target on Adobe from $500.00 to $460.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $428.96.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.